Ares Forks Over $109 Million for 2 Miami-Dade Industrial Assets

Los Angeles-based investment firm Ares Management has closed a deal worth $108.7 million for two fully leased industrial warehouses in Miami(opens in new tab)-Dade County. The assets — previously owned by BGRE (formerly known as Brookfield Properties) — include a 230,147-square-foot distribution center at 3811 W. 108th St. in Hialeah, Fla., which fetched $65.3 million, and a 142,472-square-foot warehouse at 13190 NW 17th St. in Sweetwater, Fla., that sold for $43.4 million.

The Hialeah property, located on a 15-acre site between the Florida Turnpike and I-75, is fully occupied by Target, which signed a 10-year lease agreement in 2022. Roughly 13 miles south, the Sweetwater warehouse has parcel carrier LaserShip as its sole tenant. Both assets were developed by BGRE between 2022 and 2023, respectively.

The deal is part of a trend within the market as investors chase fully leased assets(opens in new tab) across the region. Recently, New York-based Woodhill Real Estate purchased a 10-building industrial portfolio in East Hialeah for $32 million, while Longpoint Partners acquired a 146,700-square-foot, four-building portfolio in Medley, Fla., for $39 million, as well as a 90,000-square-foot warehouse in Miami for $24.6 million.

Since establishing its Miami Beach office in 2024, Ares Management has rapidly expanded its industrial footprint across Miami-Dade County. That same year, the company closed a deal worth $147 million for the four-building Midway Miami Park. Additionally, Ares acquired land for the development of Countyline(opens in new tab), a three-building industrial complex on the northwest corner of Northwest 154th Street in Hialeah.

Beyond these sites, Ares also paid $56 million for a 230,976-square-foot facility in Weston, Fla., as well as $121 million for a 456,219-square-foot portfolio in Broward County. Outside of industrial real estate, the investment firm — which holds approximately $428 billion in assets — maintains additional local ties through investments in Inter Miami CF and the Miami Freedom Park development.